Do You Pay Market, or Retail Value?
Please do not confuse what a real estate agent tells you what the value of your property is or the cities assessment.
First of all, it is quite common for a home or property to sell for 5 to 10 percent less than what the real estate agent lists it for and right now around 10 percent less than the property assessment.
Secondly, when using real estate agents, it’s not uncommon that you, will probably be required to do a number of repairs to satisfy the buyer before condition removal. These repairs could cost thousands of dollars.
Third, do not forget your holding costs -mortgage, utilities, taxes etc… A real estate agent will not make your mortgage payments for you while you wait for a buyer. That is where we come to sell your hour fast!
And don’t forget the commissions to the agent which can be as high as 7 percent, and your closing costs which can be as much as 3 percent.
A real estate agent could tell you your house or property is worth X amount of dollars. By the time your agent sells it, figure in your holding costs, repair costs, commissions, selling costs etc. etc., you might put X amount of money, less tens of thousands in your pocket!